| Property and Equipment |
Note 13 — Property and Equipment
The table
below shows the detailed movements which occurred in property and equipment during the years ended December 31, 2017, 2016 and
2015, considering cost and accumulated depreciation separately.
| Cost or valuation |
|
Plant and
machinery |
|
|
Industrial and
commercial
equipment |
|
|
Office and
office-related
equipment |
|
|
Total |
|
| Balance at January 1, 2015 |
|
$ |
234,350 |
|
|
$ |
989 |
|
|
$ |
11,997 |
|
|
$ |
247,336 |
|
| Additions |
|
|
5,271 |
|
|
|
– |
|
|
|
5,289 |
|
|
|
10,560 |
|
| Disposals |
|
|
(134,448 |
) |
|
|
– |
|
|
|
– |
|
|
|
(134,448 |
) |
| Revaluations |
|
|
(15,307 |
) |
|
|
(91 |
) |
|
|
(511 |
) |
|
|
(15,909 |
) |
| Balance at December 31, 2015 |
|
$ |
89,866 |
|
|
$ |
898 |
|
|
$ |
16,775 |
|
|
$ |
107,539 |
|
| Additions |
|
|
– |
|
|
|
– |
|
|
|
1,480 |
|
|
|
1,480 |
|
| Disposals |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Revaluations |
|
|
(120 |
) |
|
|
(22 |
) |
|
|
(211 |
) |
|
|
(353 |
) |
| Balance at December 31, 2016 |
|
$ |
89,746 |
|
|
$ |
876 |
|
|
$ |
18,044 |
|
|
$ |
108,666 |
|
| Additions |
|
|
289 |
|
|
|
– |
|
|
|
2,104 |
|
|
|
2,393 |
|
| Disposals |
|
|
(1,207 |
) |
|
|
– |
|
|
|
(2,104 |
) |
|
|
(3,311 |
) |
| Revaluations |
|
|
457 |
|
|
|
150 |
|
|
|
831 |
|
|
|
1,438 |
|
| Balance at December 31, 2017 |
|
$ |
89,285 |
|
|
$ |
1,026 |
|
|
$ |
18,875 |
|
|
$ |
109,186 |
|
| Accumulated
depreciation |
|
Plant and
machinery |
|
|
Industrial and
commercial
equipment |
|
|
Office and
office-related
equipment |
|
|
Total |
|
| Balance at January 1, 2015 |
|
$ |
85,179 |
|
|
$ |
108 |
|
|
$ |
5,105 |
|
|
$ |
90,392 |
|
| Depreciation
charge for the year |
|
|
469 |
|
|
|
– |
|
|
|
3,114 |
|
|
|
3,583 |
|
| Balance at December 31,
2015 |
|
$ |
85,648 |
|
|
$ |
108 |
|
|
$ |
8,219 |
|
|
$ |
93,975 |
|
| Depreciation
charge for the year |
|
|
495 |
|
|
|
– |
|
|
|
3,149 |
|
|
|
3,644 |
|
| Balance at December 31,
2016 |
|
$ |
86,143 |
|
|
$ |
108 |
|
|
$ |
11,368 |
|
|
$ |
97,619 |
|
| Depreciation
charge for the year |
|
|
855 |
|
|
|
– |
|
|
|
3,098 |
|
|
|
3,953 |
|
| Balance
at December 31, 2017 |
|
$ |
86,998 |
|
|
$ |
108 |
|
|
$ |
14,466 |
|
|
$ |
101,572 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Property
and equipment, net at December 31, 2015 |
|
$ |
4,218 |
|
|
$ |
790 |
|
|
$ |
8,556 |
|
|
$ |
13,564 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Property
and equipment, net at December 31, 2016 |
|
$ |
3,603 |
|
|
$ |
768 |
|
|
$ |
6,676 |
|
|
$ |
11,047 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Property
and equipment, net at December 31, 2017 |
|
$ |
2,287 |
|
|
$ |
918 |
|
|
$ |
4,409 |
|
|
$ |
7,614 |
|
Revaluations
of the property and equipment arise from increase/(decreases) in the 2017, 2016 and 2015 year-end Euro currency exchange rate
as compared to the US Dollar from the prior year.
|